Iraq’s Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has said that Iraq has oil reserves of 200 billion barrels, according to Aswat al-Iraq. This would place Iraq in third place in the worldwide rankings of oil reserves. While the officially-announced oil reserves are 143 billion barrels, the report says that this does not include […]
DNO has today presented its Annual Statement of Reserves ("ASR") as of 31.12.2010. The total remaining P50 reserves for DNO as of 31.12.2010 are estimated at 194.2 million barrels of oil equivalents, on a working interest (WI) basis, which represent the commercial reserves, class 1-3, under Norwegian Petroleum Directorate classification. This is an increase of 30% […]
Iraq's proven oil reserves total around 173 billion barrels, Deputy Prime Minister Hussain al-Shahristani (pictured) said on Wednesday, according to a report from Dow Jones Newswires. Only 143 billion barrels of these reserves have been fully audited, he said. Another 30 billion barrels located in the Kurdish region of Iraq are considered proven but haven't […]
Two weeks ago Iraq revised its estimates of oil reserves upwards, and this was immediately followed by Iran doing the same. Now Reuters reports that a former oil minister has cast doubt on the numbers and on the motivation of the governments in issuing the figures, saying that the estimates are politically motivated and not […]
Just a week after Iraq finally re-stated its oil reserves, jumping from fourth to third place ahead of Iran, the Iranians have decided to re-state their oil reserves. And by a strange coincidence, they have re-taken their place ahead of Iraq. The moves comes ahead of an OPEC meeting on Thursday; oil reserves and production […]
Iraq has raised the level of the oil reserves it claims to own by 24% in its first revision since the change of regime in 2003. The country has 143.1bn barrels of known and extractible oil, up from the 115bn barrels previously estimated. If correct, the revision means that Iraq now has bigger oil reserves […]
Iraq is set to announce a "big increase" in its oil reserves on Monday, which currently stand at 115 billion barrels, a spokesman for the oil ministry said. Iraq's crude reserves are the world's third largest but its production rate is low thanks to years of sanctions, under-investment and war. Baghdad has signed a series […]
